Venezuela Starts to Accept Petro at Gas Stations
Vincent Kessler/Reuters
Main page News, Oil, Venezuela, Petro

The Venezuelan government has announced all authorized gas stations in the country will accept the oil-backed national crypto Petro.

Venezuelan users now can pay for gas with the Petro and enjoy a discount for using the crypto in all authorized gas stations.

However, this measure has coincided with an increase in the price of gas, which has grown from almost zero to $0.2 per liter after the withdrawal of a series of subsidies.

Following the withdrawal of subsidies, gas costs 5,000 bolivars (2.5 US cents) per liter at gas stations across the country. Users will not be able to purchase more than 120 liters of gasoline per month per vehicle, while in the case of motorcycle owners the amount is reduced to 60 liters.

In order to access this discount users must have the "Carnet de la Patria" (homeland card), an identification card that has been criticized for being a manifestation of totalitarian control.

If we take into account the average monthly salary in Venezuela is equivalent to about $3.61 per month plus a food bonus of $2.89, Venezuelans will have to spend 37% of the minimum wage including the food bonus to fill up their vehicles.

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